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How much does a Firehouse Subs franchise owner make?
Total Pay Estimate & Range The estimated base pay is $69,754 per year.
Who currently owns Firehouse Subs?
Restaurant Brands International completes its purchase of Firehouse Subs. Restaurant Brands International on Wednesday said that has completed its $1 billion acquisition of Firehouse Subs. The deal gives the Toronto-based fast-food chain operator its fourth brand, to go along with Burger King, Tim Hortons and Popeyes.
How much is it to buy a Taco Bell franchise?
Costs overview Franchising fee: It costs between $25,000 and close to $50,000 for the initial franchise fee. This, too, will vary depending on the details of your specific Taco Bell franchise. Net worth: The current net-worth requirement is around $1.5 million worth of assets.
How many Firehouse Subs franchises are there?
Their first location opened in Jacksonville, FL in 1994, and since they began offering franchises in 2005, they have grown to over 1,180 locations across 46 states, Puerto Rico, and Canada. The Current CEO is Don Fox, who has held that position since 2009.
How does Firehouse Subs heat their meat?
Firehouse Subs calls it their winning combination — steaming the meats and cheeses to release flavor, then stuffing it all into a toasted sub roll. “It is this method that sets us apart from the other sub shops, along with quantity and quality of meats and cheeses,” owner Eric Engelstad said.
What meat does Firehouse Subs use?
USDA Choice roast beef, smoked turkey breast, Virginia honey ham, and melted provolone, served Fully Involved.
What is the most profitable franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
What is Starbucks franchise fee?
What are the Financial requirements for a Starbucks licensed store? You need to pay the licensing fee of between $50,000 – $315,000 and you must have over $1,000,000 in liquid assets to be considered for a licensed store by Starbucks.
How much is a Wendy's franchise?
Does it include start-up supplies and training? The standard franchise fee is $50,000 for a franchise agreement with a term of 20 years.
What does it take to open a Firehouse Subs franchise?
The initial single-unit franchisee fee is $20,000. The average total cost for a traditional Firehouse Subs restaurant is $412,731. Investors would need a minimum of $100,000 in liquid cash to invest in order to qualify for financing for the investment.
What is the cost of McDonald's franchise?
The Franchise fee of McDonald's goes for around 30 lakhs INR; however, this fee is also attached with a 4 % monthly royalty fee as service fees to the brand. The actual investment amount differs, a business owner needs to keep a rough estimate of around 6 to 14 Crores.
What is the franchise fee for Dunkin Donuts?
Here is a breakdown and ranges of the financial requirements to open a Dunkin' franchise: Total investment range: $97,500 to $1.7 million. Initial franchise fee: $40,000 to $90,000 (varies by location) Net worth: $500,000 minimum.
Did Burger King buy out Firehouse Subs?
The chain's sales have tripled in size since 2010.
Did Firehouse Subs get sold?
Firehouse Subs co-founders Robin Sorensen, left, and Chris Sorensen, right, with Jose Cil, CEO of Restaurant Brands International Inc. RBI agreed to buy Firehouse for $1 billion. But the company found it was reaching its capacity with resources. “We needed somebody with much larger resources than we have,” he said.
Where is the headquarters for Firehouse Subs?
Jacksonville, FLFirehouse Subs / HeadquartersJacksonville is a city located on the Atlantic coast of Florida, the most populous city in the state and is the largest city by area in the contiguous United States as of 2020. It is the seat of Duval County, with which the city government consolidated in 1968. Wikipedia
Who does Restaurant Brands International own?
RBI owns four of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, POPEYES® and FIREHOUSE SUBS®. These independently operated brands have been serving their respective guests, franchisees and communities for decades.
How long does it take for Firehouse Subs to advertise?
Firehouse Subs requires you to conduct a market introduction advertising and promotional program within the first 12 months after the opening of the Restaurant. This requirement may be waived if your Restaurant exceeds the franchisor’s expectations for sales performance.
What is legal and accounting services?
If you obtain legal and accounting services to help with business formation; review of contracts, financing documents, and leases; setting up of books and records; and other services. This amount varies greatly depending on the services performed and rates prevailing in your market.
How many people can you train at Firehouse Subs?
If space is available at such training sessions, Firehouse Subs will provide initial training for up to 3 additional people at no charge for a total of 5 attendees.
What items are included in Firehouse Subs?
This item may include tables and booths, sinks, refrigerators, ovens, steamers, ventilation systems, display cases, stools, chairs, utensils, computers, POS System, a phone system and facsimile machine that meets Firehouse Subs’ specifications and standards, a desk, filing cabinets, and related office supplies for a Restaurant.
When does insurance have to be in force?
The insurance policy must be in force and effect when the lease for your store is signed. If there is no lease (for example, you own the property), then the insurance policy must be in force and effect when you begin construction. 15. Miscellaneous Expenses (3 Months): $0 to $60,000.
Does Firehouse Subs offer financing?
Firehouse Subs does not offer financing directly or indirectly for any part of the initial investment for your Restaurant. The actual lowest total investment for an individual Restaurant of this category during 2020 was $264,477 and the actual highest total investment for an individual Restaurant was $595,926.
Firehouse Subs Franchise Requirements
In addition to the fees associated with opening a franchise, the Firehouse Restaurant Group requires that franchisors have a minimum of $80,000 to invest, a credit score of at least 650, along with a strong inner drive for excellence, devotion to the Firehouse Subs business, community-mindedness, and a love of subs.
How many Firehouse Subs units have opened and closed?
Over the last three years, Firehouse Subs has been growing at an average of 21 franchises a year. One franchise closed in 2020, but that is not surprising in a year that many restaurants across the country were forced to close due to the pandemic.
Conclusion
Firehouse Subs has seen franchise unit increases over the last three years, and average franchise revenues have increased as well. However, there are high initial costs of opening a franchise, and based on the industry multiple, it will be difficult to sell the franchise at a profit.